The proposed legislation establishes a School of Intellectual Freedom as an independent academic unit within the University of Iowa, specifically located in the College of Liberal Arts and Sciences. The school is tasked with conducting teaching and research focused on the historical ideas, traditions, and texts that have influenced the American constitutional order and society. It will offer instruction on subjects related to the intellectual foundations of free societies, principles of the American constitutional order, and responsible leadership, while also promoting values of free speech and civil discourse. The bill allows the school to develop various academic programs and mandates the establishment of bylaws that emphasize intellectual diversity and rigorous inquiry.

Additionally, the bill outlines the governance structure of the school, including the requirement for at least five tenure-eligible faculty members and the formation of an academic council to assist in selecting a dean. The dean will have exclusive authority over faculty recruitment, curriculum development, and inviting guest speakers, while also being responsible for submitting an annual report on the school's achievements to the governor and the general assembly. The school is permitted to accept private donations and must use all funds solely for its direct operations, ensuring that no funds are allocated for indirect costs associated with the university.